Oppenheimer Holdings Reports Q4 EPS of $1.24

Oppenheimer Holdings Inc. OPY reported a net profit of $16.5 million or $1.24 per share for the fourth quarter of 2010 compared to a net profit of $6.5 million or $0.49 per share in the fourth quarter of 2009, an increase of 155.9% in net profit. Revenue for the fourth quarter of 2010 was $296.8 million, compared to revenue of $273.4 million in the fourth quarter of 2009, an increase of 8.6%. Client assets under administration totaled approximately $73.2 billion while client assets under management in fee-based programs totaled approximately $18.8 billion at December 31, 2010 ($66.0 billion and $16.4 billion, respectively, at December 31, 2009). Net profit for the year ended December 31, 2010 was $38.3 million or $2.87 per share compared to $19.5 million or $1.49 per share in the same period of 2009, an increase of 96.7% in net profit. Revenue for the year ended December 31, 2010 was $1.0 billion, an increase of 4.4% compared to $991.4 million in the same period of 2009.